Clarivate's 2023 Sustainability Report Highlights Progress

Clarivate's Commitment to Sustainability

Clarivate Plc (NYSE: CLVT), a prominent global provider of transformative intelligence, has unveiled its 2023 Sustainability Report. This report emphasizes the company’s dedication to sustainability and its alignment with the United Nations Sustainable Development Goals (SDGs). In a world increasingly focused on environmental and social responsibility, Clarivate stands out for its impactful initiatives.

A Year of Recognition and Awards

In recent months, Clarivate has garnered significant accolades, highlighting its efforts and performance in sustainability. Notably, the company was shortlisted for the prestigious SDG Pioneer Award at the Thomson Reuters Responsible Business Awards. Additionally, Newsweek acknowledged Clarivate in its list of "America's Greatest Workplaces for Diversity for 2024" and "America's Greenest Companies" for the same year. This recognition is a testament to their rigorous commitment to enhancing workplace diversity and environmental stewardship.

Joining Forces with Global Initiatives

In 2023, Clarivate joined the United Nations SDGs Publishers Compact, reinforcing its adherence to various global initiatives. The company’s involvement also includes the United Nations Global Compact and the Women's Empowerment Principles, alongside their participation in CEO Action on Diversity and Inclusion and the U.K. Stonewall campaign advocating for trans rights. Additionally, Clarivate is aligned with the Science-Based Targets Initiative, demonstrating its commitment to scientifically grounded sustainability practices.

Milestones Achieved in 2023

Clarivate has achieved significant milestones in 2023 that reflect its strategic focus on enhancing sustainability within its operations. A remarkable aspect is that approximately 49% of Clarivate's revenue is aligned with the UN SDGs. Furthermore, an impressive 53% of the companies featured on the Dow Jones Sustainability World Index 2023 are partners with Clarivate. These partnerships showcase the company’s influence and reach within the sustainability domain.

Innovative Sustainable Strategies

Clarivate has initiated a global procurement transformation, aiming to implement a sustainable procurement strategy by 2025. This initiative is designed to improve supply chain practices and encourage ethical sourcing. The company has also reported sustainability metrics integrated across all its enterprise resource planning systems, signifying a comprehensive approach towards tracking and enhancing operational sustainability.

Commitment to Training and Volunteering

Corporate training initiatives have been strengthened, including the introduction of anti-corruption training as part of the annual Code of Conduct programs. This encourages an ethical corporate culture and promotes accountability among employees. Clarivate also encourages community involvement by providing colleagues with up to 40 hours of paid volunteer time off, resulting in over 23,000 hours volunteered in just a single year. This initiative not only supports community efforts but also fosters employee engagement.

Supporting Essential Sustainable Development Goals

Clarivate’s efforts contribute significantly to several vital SDGs. For instance, under SDG 3, which focuses on Good Health and Well-being, Clarivate supports life sciences and healthcare businesses, impacting over 95 million patients in understanding their medications. Under SDG 4, Clarivate aids more than 130 million students and over 26,000 public and academic libraries in accessing quality education.

Conclusion: A Path Forward

As Clarivate continues to evolve, its commitment to sustainability remains robust. The company not only recognizes its responsibility towards social and environmental wellness but actively participates in initiatives that promote these values. The 2023 Sustainability Report serves as a reflection of past accomplishments and a roadmap for future endeavors as Clarivate strives to create a more sustainable and equitable world.

Frequently Asked Questions

What is Clarivate's core focus in their sustainability efforts?

Clarivate is mainly focused on aligning its revenue with the United Nations Sustainable Development Goals (SDGs) and enhancing its operational sustainability practices.

What recognition has Clarivate received in 2023?

In 2023, Clarivate was shortlisted for the SDG Pioneer Award and recognized by Newsweek for its diversity and environmental efforts.

How does Clarivate support the community?

Clarivate supports community engagement by providing employees with paid volunteer time off, allowing them to contribute significantly to local initiatives.

What initiatives has Clarivate taken to improve workplace diversity?

Clarivate has joined various initiatives, including CEO Action on Diversity and Inclusion and the Women's Empowerment Principles, promoting diversity within the workplace.

How does Clarivate track its sustainability metrics?

Clarivate reports its sustainability metrics through integrated enterprise resource planning systems, ensuring a systematic approach to operational sustainability.

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